Energy Dept. says company withdrew request for reserve oil

StephanieI. Cohen

WASHINGTON (MarketWatch) -- The Energy Department said it will not need to release oil from the nation's petroleum stockpiles to an unidentified company that had made a request for supplies this week following Hurricane Katrina. On Wednesday the company "rescinded its request," said Craig Stevens, a spokesman for the department. The companywas able to receive planned deliveries of oil from commercial sources alleviating its need for federal supplies, according to the Energy Department. The department continues to review other pending requests for supplies from the reserve.

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